The MIGWELL project focuses on the nexus of migration and well-being in Hungary and Austria. Using quantitative and qualitative research methods, it seeks to explore the impacts of migration on subjective well-being in the case of Hungarian immigrants in Austria as well as the effects of subjective well-being differences on emigration potential in Hungary. The approach of this project is innovative not only because it links the concepts of ‘well-being’ and ‘migration’, but also because it interprets their two-way causal relationship within one research framework. The theoretical expansion of these concepts and the empirical findings of the project may contribute to more effective policies in both countries.